Shares of Independence Realty Trust Inc (NYSE:IRT) have been given an average rating of “Buy” by the ten brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $11.25.

Several research firms have recently weighed in on IRT. Zacks Investment Research lowered shares of Independence Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. National Securities lifted their price objective on shares of Independence Realty Trust from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 22nd. B. Riley reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Independence Realty Trust in a research note on Wednesday, November 1st. Finally, KeyCorp began coverage on shares of Independence Realty Trust in a research note on Tuesday, December 5th. They issued a “sector weight” rating for the company.

Independence Realty Trust (NYSE:IRT) traded up $0.13 during trading hours on Friday, hitting $8.50. 825,809 shares of the stock traded hands, compared to its average volume of 654,291. The company has a market cap of $699.05, a price-to-earnings ratio of -32.69 and a beta of 0.90. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.14. Independence Realty Trust has a 12 month low of $8.26 and a 12 month high of $10.63.

A number of hedge funds have recently made changes to their positions in IRT. Advisor Group Inc. increased its stake in Independence Realty Trust by 76.8% during the 2nd quarter. Advisor Group Inc. now owns 10,251 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 4,454 shares in the last quarter. Loeb Partners Corp bought a new stake in Independence Realty Trust during the 3rd quarter valued at $102,000. Profund Advisors LLC bought a new stake in Independence Realty Trust during the 2nd quarter valued at $103,000. SG Americas Securities LLC bought a new stake in Independence Realty Trust during the 3rd quarter valued at $105,000. Finally, CIBC Asset Management Inc bought a new stake in Independence Realty Trust during the 4th quarter valued at $110,000. Institutional investors and hedge funds own 79.15% of the company’s stock.

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About Independence Realty Trust

Independence Realty Trust, Inc is an internally-managed real estate investment trust (REIT). The Company is engaged in the business of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of real estate assets. The Company owns apartment properties in geographic non-gateway markets.

Analyst Recommendations for Independence Realty Trust (NYSE:IRT)

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